Given the latest CRP conversation, this week’s post takes an updated look at CRP trends and walks through a simple thought experiment to provide insights on what a reduction in U.S. crop production acres might look like. Continue reading →
In late March, the beef industry was rocked by a meat scandal in Brazil that created concerns about quality and safety controls. Many countries, including China, temporarily halted imports of Brazilian beef while the scale and scope of the issues were sorted out. In light of these events, it is worthwhile to step back and reflect on beef trends (as we did a few weeks ago with corn here and here). This week’s post considers the global beef trends – including consumption, production, imports, and export.
We have frequently written about the expansion and subsequent contraction of the U.S. farm income. While most of our previous work has focused on sector-level trends across the U.S. farm economy, we have anecdotally noted these trends likely vary at the local, state, and regional levels. Thinking about these variations, we previously looked at how changes in farmland values have varied across the country. To provide more insight on the variations in the farm economy, this week’s post considers state-level changes in net farm income during the boom and contraction. Continue reading →